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How to reduce “time to hire” in recruiting

By
StoryBox Marketing
#recruiting
Last update
19.05.2023
03
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01
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2024
Content

From job advertisement to contract signing

Imagine that your HR team is taking part in a rowing race. For this, it is sitting in a boat; the destination is the shore, a symbol of the search for and hiring the perfect candidate on the applicant market. How long is the race? How long does it take until the open position in your company is filled? The “time to hire” has so far been a nebulous figure in recruitment for many companies, but is an important key term in modern, successful, competitive personnel management. That's why we explain what “time to hire” is and how you can optimize it.

What is “time to hire” and why is it important?

“Time to Hire” describes the period that elapses from publishing a vacant position in the company to hiring a new employee. She is an important indicator of the efficiency of recruitment processes. Based on the “time to hire”, it is possible to analyze which steps in the recruitment process are efficient and successful and which need to be improved.

A high “time to hire” can

  • lead to vacant positions
  • waste of resources means
  • result in lost productivity and expenses
  • impair employer branding and public image
  • the best candidates from the decision per Stop the company

In contrast, a lower “time to hire” results in

  • more interested responses when addressing candidates
  • more success, especially with qualified talent
  • reducing the ghosting rate
  • More employee retention in the long term

Two factors that influence “time to hire”

Recruitment strategy

An effective recruitment strategy is the key to reducing “time to hire” and is crucial for hiring highly qualified professionals. It should have clearly defined goals, a systematic approach to identifying and attracting talent, and a structured interview and selection process. The strategy should also include a plan for the onboarding process to ensure that new employees are up and running as quickly as possible and can work productively.

Candidate Experience

Candidate experience refers to an applicant's overall experience throughout the recruitment process. It includes everything from the initial interaction with the company (e.g. via a job advertisement) to the final communication following the hiring decision. A positive and easy application process can result in Candidates making decisions faster and accepting the job offer, reducing “time to hire.” Companies achieve this through transparent processes, regular communication, quick feedback, and respectful treatment of applicants.

Measurement and analysis of “time to hire”

To optimize the time until recruitment, it is important to measure and analyze it regularly. Data regarding the number of applications, the duration of the application process, and the final decision time can be helpful here. To obtain the data, Tracking programs or HR analytics tools are used. By identifying bottlenecks and problem areas, the recruitment process can be further improved and the “time to hire” reduced.

Technology and automation: How to optimize “time to hire”

Modern technologies can significantly speed up the recruitment process. For example, artificial intelligence and automated recruitment systems help identify patterns to identify suitable candidates and to make a pre-selection. They do this by having the skills, experience, and qualifications Automatically compared with the requirements of the open position. This allows recruiters to focus on the most suitable candidates and saves significant time, making the entire process more efficient and reducing “time to hire.”

To target the ideal candidates effectively and to get people to make the right decision faster modern video measures are also suitable. Using video messages, video information material and personal follow-ups gives applicants the candidate experience they want. They also receive valuable insights into the company via video messages and can better assess whether they fit the culture.

Achieve the ideal “time to hire” with StoryBox

Using integrated templates and an intuitive user interface, our cloud-based video software allows you to structure and accelerate your recruiting process and make it more successful at the same time. Thanks to personal video messages, you'll be more successful both in active sourcing and in communicating with your applicants than with job advertisements or mass mailings. Every recruiter can quickly assimilate these messages and ensure that Applicants feel addressed individually.

While applicants have to obtain more information and get an idea on their own without video insights, do you worry about personal video messages for the necessary () connection to you and your company? This significantly drives communication and ultimately decision-making as part of the recruiting process.

Do you want to learn more about recruiting with video? Get our free white paper!

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